roles of ethics in business corporate social responsibility ethics and its importance

1. The role of ethics in
business
Faraha lugman
Ma- 42
22642
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2. Contents
• What is ethics
• What is business ethics?
• Importance of business ethics
• Role of ethics in business
• Conclusion
• References
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3. What is ethics?
• Moral codes that govern behavior of a person
or group of people
• Ethics is concerned with the following:
– Good vs. Bad
– Right vs. Wrong
– Fair vs. Unfair
– Praise vs. Blame
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4. What is business ethics?
• Business ethics are moral principles that guide
the way a business behaves. These are set of
moral standards that are relied upon to reach
conclusions and make decisions. In a business
environment, ethics are a key factor in
decision making.
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5. Importance of business ethics
• Business ethics are important for managing a
sustainable business mainly because of the
serious consequences that can result from
decisions made with a lack of regard to ethics.
• Even if you believe that good business ethics
don't contribute to profit levels, you should be
able to recognize that poor ethics can have a
detrimental effect on your bottom line in the
long term.
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6. Roles of ethics in business
• Improved employee and organizational morale
• Increased ability to attract new customers
• Improved customer loyalty
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7. • Reduced risk of negative exposure and public
backlash caused by poor ethics
• Attraction of new stakeholders
• Making a positive impact on the community
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8. Conclusion
• Ethics in business is important without it we
cannot achieve any satisfaction or profit or
integrity and support from the people or from
the business. It gives transparency and long
term profit. In a sustainable business,
employees at every level should be committed
to the ethical standards of the business.
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9. References
• http://businesscasestudies.co.uk/cadbury-
schweppes/ethical-business-practices/the-
importance-of-ethics-in-business.html
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